1. I wanted to experiment doing an online sale that can be pulled off in a quicker and faster succession compared to doing a full-scale product launch.
2. So I opened my Excel Sheet file where I have jolt down my “idea bucket”. After conducting a quick research by combing through the Main Discussions in the Warrior Forum and the search engines, I went to create an Information Product right away.
3. The product creation process took 2 days. I wasn’t writing an E-Book; I was doing a Multimedia Course.
4. The product I was creating was called Content Creation Secrets, named after the 2 hour presentation I had at the IPASS Seminar last National Day. Judging from the response of over 90 attendance, there’s a hot demand for this priceless skill – and what if you can create content on demand and sell?
5. Since I still have the PowerPoint slides, I did little modification to it and added new pointers. Then I turned on the microphone and fired away. I recorded over 5 different sessions, broken into 5 MP3 audios, in slightly above half an hour.
6. Now my voice isn’t exactly the sexiest but I focused on getting the work done than trying to strive for perfection (which is almost impossible because of the ‘uhhs’ and ‘ahhs’ I do on reflex!) So after the recordings were done, I submitted the MP3 audios to my sister to do the text transcription (omitting the ‘uhhs’ and ‘ahhs’ of course) and correct the grammar where possible. This is where having an in-house virtual assistant pays off. 🙂
7. While my sister was working on transcribing the audio, I worked on the sales letter and graphics for the product. I could do both on my own, and in spirit of challenging myself I chose not to outsource them. (besides, I am also working on a big project called Mega Red Packet so all the outsourcing efforts are going there)
8. The sales letter and graphics were done on the same day, and my sister finished the transcription by night time. I re-did the audio by following the printed transcription thus the quality of the audio is better – no stammering, audible mistakes, etc. 🙂 All of the product creation aspects were taken care of over the weekend i.e. 2 days.
9. Day 3: I wrote the main sales letter that sells the Private Label Rights to the full-blown Multimedia Course. I kept one license for myself so I can sell it to the end-users at a later date, but for this round I wanted to release the Private Label Rights to my members and subscribers, who are mostly resellers and offline publishers themselves.
10. Next, I did a short video explaining the offer in 8 minutes. This is where having Camtasia Studio 6 comes in handy. I did the video, uploaded it onto YouTube and embedded the video on the parent sales letter, near the bottom of the headline. (SIDENOTE: have to keep the video under 10 minutes to be accepted by YouTube)
11. I didn’t sell the product right away. Since I didn’t plan for this to be a big launch (and I don’t want too many competitors by the time I sell this for myself to the end-users) I broadcast an email to my AMLOH Joint Venture Partners at AMLOH-Central.com to tell them about my upcoming Private Label Rights (PLR) Sale and if any of them were interested in taking part in promoting the 72 hour sale with me, I would send them the full info – their promotion link, promotion email and complimentary access to the product. I had also set a date for the PLR Sale to go live and expire in 3 days.
12. Since I still had some time left before the PLR Sale day, I added a One Time Offer quickly and priced it at $27.00. I was thinking that since I was going the customers in, might as well give them a shot at the One Time Offer and see how many of them would snap it up. I know one thing for sure: if I didn’t add the OTO I will never make more.
13. On the sale day, the order links went live on the sales page and I alerted my 9 JV Partners to start promoting the PLR Sale to their members and subscribers on their mailing list. I promoted to my own list too simultaneously. Other marketing mediums include Twitter and FaceBook. A follow up on all of these mediums was done the next day.
14. PLR to the product was priced affordable i.e. $47.00. Sales letter converted at 4.3%, probably thanks to the video I embedded. One Time Offer did its conversion at around 30%, meaning every 3 in 10 customers would also purchase the OTO.
15. Altogether, the PLR Sale made a total of $7,315.00 in 3 days. I was my own biggest seller, and the JV Partners made $2,312.50 leaving the admin (me) with $5,002.50 in gross profit. I suspect that if I had tried to sell purely on my own I would only have made slightly above $3,000. Still not bad for 3 days of product creation and set up, and the 72 hour profit was equivalent to 12 month’s pay in my previous office boy job.
16. Not to mention production cost was $0.00. I already had JVManager1, mailing list, hosting & domain, payment processors (PayPal, 2CheckOut), Camtasia Studio, PowerPoint, Word and PDF converter, and many others available, and they have already been paid for themselves along time ago. Thus it didn’t cost me a dime in the process to create the Multimedia Course.
17. I had done a similar 72 Hour Sale in September last year, and that brought in $4,241 in sales within 3 days. The $3,000 in increase in this sale is owed to having more JV Partners (the last one I had only 4), and this time product was multi-format (MP3 and transcript which sells better than just purely E-Books).
18. I have reserved myself a copy of the PLR license to my own product, which means I can still continue selling it to the end-users, thus will create another on-going income stream.
19. Oh, and did I mention that I did all these without leaving home? 😉